UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
SEPTEMBER 22, 1999
------------------
(Date of earliest event reported)
LABORATORY CORPORATION OF AMERICA HOLDINGS
------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 1-11353 13-3757370
-------- ------- ----------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
358 SOUTH MAIN STREET, BURLINGTON, NORTH CAROLINA 27215
-------------------------------------------------------
(Address of principal executive offices)
336-229-1127
------------
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS
On September 22, 1999, the Company issued a press release
along with AHT Corporation, a healthcare e-commerce company,
announcing an agreement whereby AHT will provide computer
interfaces for the Company's reference laboratory, hospital,
and managed care clients. The agreement provides for AHT to
develop and install specific interfaces based on AHT's CDX-2-
Trademark-technology, which allows the Company and its hospital
partners to exchange laboratory results, demographics,
eligibility information, and laboratory orders.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated
September 22, 1999.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
LABORATORY CORPORATION OF AMERICA HOLDINGS
------------------------------------------
(Registrant)
By:/s/ BRADFORD T. SMITH
------------------------------
Bradford T. Smith
Executive Vice President,
General Counsel, Secretary
and Compliance Officer
Date: October 4, 1999
FOR IMMEDIATE RELEASE
AHT Contact: Arthur Dague LabCorp Contact: Pam Sherry
(914) 524-4783 (336) 584-5171
adague@ahtech.com sherryp@labcorp.com
AHT CORPORATION AND LABCORP TO LINK LAB, HOSPITAL AND
MANAGED CARE DATA
TARRYTOWN, NY AND BURLINGTON, NC, SEPTEMBER 22 , 1999 - AHT
Corporation (Nasdaq: AHTC), a healthcare e-commerce company, and
Laboratory Corporation of America-Registered Trademark-Holdings
(LabCorp-Registered Trademark-) (NYSE: LH), one of the world's
largest clinical laboratories, announced today that they have
entered into an agreement whereby AHT will provide computer
interfaces for LabCorp's reference laboratory, hospital, and
managed care clients. The agreement provides for AHT to develop
and install specific interfaces based on AHT's CDX-2-Trademark-
technology, which allows LabCorp and its hospital partners to
exchange laboratory results, demographics, eligibility
information, and laboratory orders. Financial terms of the
agreement were not disclosed.
"Building a cooperative data management network is directly in
line with LabCorp's Internet strategy to improve information flow
through the use of innovative technologies," said Stevan R.
Stark, Executive Vice President of LabCorp. "LabCorp selected AHT
for its depth of experience in complex multi-laboratory
interfacing. Their CDX-2 technology enables LabCorp to serve the
network management needs of managed care customers, working with
our hospital and reference laboratory partners." The AHT
relationship is a key component of LabCorp's global strategy for
network management services.
CDX-2 provides a Microsoft NT-based platform to rapidly develop
and operate interfaces between and among information systems in
ambulatory physician offices, reference laboratories and
hospitals. CDX-2 enables the integration of multiple
institutions and services in a high-speed transactional
environment.
Jon Edelson, MD, Chairman, CEO and President of AHT, said, "AHT
is very pleased to have been selected by LabCorp to provide these
interfaces. We believe that our experience combined with the CDX-
2 technology will allow LabCorp to meet the marketplace's demands
for increasingly complex business relationships between certain
of its partner hospitals and reference laboratories."
Laboratory Corporation of America-Registered Trademark-
Holdings(LabCorp-Registered Trademark-) is a national clinical
laboratory with annual revenues of $1.6 billion in 1998. With
18,400 employees and over 100,000 clients nationwide, the company
offers more than 2,000 clinical tests, ranging from simple blood
analyses to more sophisticated technologies. Included in
LabCorp's network of 25 major laboratories are three Centers of
Excellence. The Center for Molecular Biology and Pathology, in
Research Triangle Park (RTP), North Carolina, develops
applications for polymerase chain reaction (PCR) technology. Its
Center for Occupational Testing in RTP is the world's largest
substance abuse testing facility, and the Center for Esoteric
Testing in Burlington, North Carolina, performs the largest
volume of rare analyses in the network. LabCorp's clients include
physicians, state and federal governments, managed care
organizations, hospitals, clinics, pharmaceutical and Fortune
1000 companies, and other clinical laboratories. Visit LabCorp's
web site at www.labcorp.com.
AHT Corporation (Nasdaq: AHTC) participates in the growing
healthcare e-commerce market. The Company provides information
technology enabling the electronic management of laboratory and
prescription transactions. AHT's goal is to be a leading
provider of Internet-based clinical e-commerce among physicians
and healthcare organizations. Visit AHT's website at
www.ahtech.com.
###
This press release contains forward-looking information regarding
AHT Corporation and Laboratory Corporation of America Holdings.
The forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements, including statements as to
industry trends, future economic performance, anticipated
profitability, anticipated revenues and expenses, and products or
service line growth may be significantly impacted by certain
risks and uncertainties, including, but not limited to, failure
of the clinical e-commerce industry to develop at anticipated
rates, failure of the Companies' clinical information technology
products and services to gain significant market acceptance,
competition and other economic factors. These forward-looking
statements speak only as of the date hereof, and the Companies
disclaim any intention or obligation to update these forward-
looking statements in the future. Additional risks and
uncertainties are described in the Companies' public filings with
the Securities and Exchange Commission.